Market Research Finds Barclays Needs More Focus on Customer Care

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8th February 2011 17:42 - Financial Services

Results from a recent Which? survey have revealed that only 53% of Barclays’ current account customers were satisfied with their service compared with other personal finance service leaders such as First Direct and Virgin, who have a satisfaction level of 88%.

In addition, the Barclays net promoter score, a rating widely recognised as a key metric of banking performance, currently rates them at a shockingly low -35.

The results were raised at the House of Commons Treasury Committee last week where Barclays Group CEO Bob Diamond was grilled as part of an investigation into competition and choice in the banking sector.

Barclay’s response to the Which? findings was that the results did not tally with their own service research, which showed Barclays customers were 90% satisfied overall, and 80% would recommend the bank to others.

The consensus however is that Barclays needs to get more serious about customer satisfaction, since other independent surveys such as that of the Financial Service Authority in September last year have found that Barclays had the third worst complaint record in the UK.

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